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Ras Al Khaimah Economic Zone

Ras Al Khaimah Economic Zone

Ras Al Khaimah Economic Zone (RAKEZ) is a business and industrial center in the UAE, where there are unique opportunities for onshore and offshore facilities. This territory attracts foreign investors due to its profitable and unique business environment. The district is open to many – from freelancers and startups to multinational enterprises operating in more than 50 fields.

About Ras Al Khaimah

It is considered one of the leading directions for starting a business and is located in the north of the UAE. After an hour’s drive, you can find yourself at Dubai airport. The rapidly developing markets of the Middle East and other countries are also easily accessible.

The district has a proven reputation in the field of security and stability. Logistics hubs in the form of seaports, an international airport and multi-lane highways open access to trade flows between east and west.

In addition to the business environment, the area is considered an ideal place for a family to live.

The territory has a rich local culture, a picturesque view of the majestic mountains, year-round sunny weather. In addition, you will be able to take advantage of affordable housing, shopping centers, leading educational and advanced medical institutions.

About RAKEZ FEZ

SEZ RAKEZ

RAKEZ appeared in Ras al Khaimah in 2000. Now the district connects investors with the growing markets of other countries. The mission is to empower customers and investors. In addition, one of the goals of the FEZ is to provide the most modern amenities, to offer unique customizable solutions for business activities.

International offices

  1. India. Work began in August 2005. It is localized in Mumbai.
  2. Turkey. The date of foundation is December 2007. It is located in the prestigious Levente district of Istanbul.
  3. Germany. The German facility was founded in April 2008. It is located in Cologne.

Business centers and promotion centers

The objects are localized in Dubai and Abu Dhabi:

  1. The Fermont Business Center on Sheikh Zayed Road near the Dubai World Trade Center, Dubai International Convention Center and (DIFC).
  2. Development and Innovation Center “Festival City” in “Festival City Dubai”.
  3. Abu Dhabi Mall Development and Innovation Center.

Important facts about RAKEZ

  1. Full ownership of the property.
  2. No taxes.
  3. The authorized capital is from 100 000 dirhams (for a sole proprietor), 150,000 dirhams (with 2 or more owners).
  4. The license period is 1 year with the possibility of extension until the end of the validity period.
  5. Absence of audit reports.

Advantages of starting a business

  1. Quick and easy registration process.
  2. 100% ownership and the ability to transfer profits to your country.
  3. High level of industrialization of the country, easy access to markets.
  4. Issuing permits that include various services – from educational to commercial.
  5. The opportunity to use a number of public services, for example, assistance in concluding a contract.
  6. Warehouses of all sizes.
  7. Modern infrastructure.
  8. No currency restrictions.
  9. Transparent laws and regulations.

What zones are there in RAKEZ

AL GHAIL INDUSTRIAL

Al Ghail Industrial

The industrial zone is suitable for those who want to create the largest manufacturing enterprises. Here you can form the subjects of a free and non-free zone. Among the amenities: land plots with an area of 5000 sq.m and accommodation of workers.

AL HAMRA INDUSTRIAL

Suitable for light and heavy industry projects. As a convenience, we offer:

  1. Land.
  2. Warehouses – 150-10 000 sq.m.
  3. Labor placement.

RAKEZ ACADEMIC

Rakez academic

The main purpose of creating an academic zone is to attract and support qualified educational institutions and service providers in the field of education, training, and advanced training. The zone can offer:

  1. Office space for consulting and training.
  2. Prefabricated buildings for aspiring higher education providers.
  3. Land for the construction of a K12 school/university.

AL HULAILA INDUSTRIAL

Suitable for investors whose business specializes in industrial production. Conveniences:

  1. Living quarters for employees.
  2. Land – from 5000 sq.m.
  3. Warehouses of different sizes.

AL NAKHEEL BUSINESS

al nakheel business

Includes first-class business centers. The main goal is to support startups, businessmen, freelancers and SMEs. Here you can use flexible desks (shared workstations), as well as office spaces.

AL HAMRA BUSINESS

The business zone aims to provide a business environment close to the hustle and bustle of the city. At the same time, commercial institutions, logistics centers, first-class entertainment and residential complexes remain easily accessible. Here you can also work in separate office spaces or use flexible desks.

What types of companies can be opened in Ras Al Khaimah FEZ

Free zone enterprise

In addition to the above advantages, the business is different:

  • the opportunity to fully own a business;
  • access to the markets of the region (if a “local” agent participates);
  • availability of employees.

“Local”

Characteristics:

  • a “local” shareholder must participate in the registration of the company;
  • it is possible to trade on the market of the region without involving intermediaries;
  • the work of employees is regulated by the labor legislation of the Emirates.

Offshore

Registration of different LLC options is available: limited by stock prices, guarantees, tasks, with divided portfolios or unlimited liability.

It is allowed to re-register an organization from other jurisdictions. Offshore cannot work inside the Emirate and does not give the right to obtain resident visas.

License types

  1. Commercial – for trading.
  2. Educational– for the opening of educational institutions/consulting facilities.
  3. Electronic commerce (E-COMMERCE) – for trading goods and services using electronic means.
  4. GENERAL TRADING – for the sale of several goods.
  5. Individual/ PROFESSIONAL (INDIVIDUAL/ PROFESSIONAL) – for one owner with one type of activity in the specialty.
  6. Industrial – for the production, import, packaging, export of products.
  7. MEDIA – for the implementation of operational activities related to the media.
  8. Professional – for individuals providing professional services.
  9. Service – to provide services/consultations in any industry.
  10. A FREELANCER PERMIT is for specialists in such fields as media, education, and information technology.

What is the business infrastructure

business infrastructure

Each of the infrastructure elements can be rented for a year, but the lease must be renewed every year. You also have the right to apply for a resident visa. It is necessary to pay the rent at the time of registration/ renewal of the permit.

Coworking spaces

Allow you to gain access to the business community with a short-term membership / create your own company.

Serviced

Advantages of an economical and convenient option:

  • permanent workplace.
  • shared office spaces with like-minded firms.
  • area – from 3 square meters per table.

The types of permissions are all except industrial and freelance.

It is possible to apply for up to 4 visas: for one workplace – up to 2, for two – up to 4 permits.

Under the terms of the lease, the contract is issued with a further extension for 1-5 years. It includes maintenance costs, utilities.

Standard

An ideal option for SMEs who plan to be permanently present in the Emirates. The main feature is a personal account of 6.5–11.9 square meters. Available licenses: commercial, service, general trading.

Executive

Suitable for those who want to accommodate a lot of employees and customers. The permission types are the same as in the previous version.

Advantages:

  • developed object;
  • private space without furniture (furniture can be obtained for an additional fee);
  • size – 12-20 sq.m.

SHELL & CORE offices

SHELL &CORE office

Undeveloped large offices, fully customizable according to business requirements. The size of the premises is from 120 to 170 sq.m.

Warehouses

Objects of different sizes are suitable for those who are engaged in light production, storage and assembly of goods. Applicable for all licenses.

Distinctive characteristics:

  • the presence of an office inside;
  • insulated roof and door;
  • sizes – from 150 sq.m.

Land for development

The land is suitable for industry, logistics and service. Prepayment is accepted for rent for up to 3 years or more.

The areas start from 2500 sq.m. Here all roads are distinguished by the presence of good coverage. You can also connect to utility and telecommunications providers.

Staff quarters

To save on transportation costs, your employees can be accommodated in industrial zones from 12 to 32.2 sq.m for 4-8 people per room. The rooms have a single bed and air conditioning.

How to open a company?

Businessmen

Registration

Define:

  1. Name for the company (at least 3). It will be checked for uniqueness. The use of English and Arabic is allowed. Must end in FZE.
  2. Structure – from director to attorney.
  3. The size of the authorized capital and the distribution of shares.
  4. Activities, regions.
  5. License type.

Payment for services

You will need to pay for the services of the registrar, as well as making a deposit to cover expenses such as notary work, fees.

Preparation of documents

List of documentation for company representatives:

  • color photocopy of the internal passport;
  • color photocopy of the passport;
  • a document with an address;
  • copy of visa/ entry stamp;
  • ID for residents;
  • NOC.
  • business plan.

All copies must be notarized.

Application submission

After registration, you will be given:

  1. Certificate of registration.
  2. Regulation.
  3. Share certificates.
  4. Permission to conduct business for up to 1 year.
  5. Registers of shareholders.
  6. Lease agreement.
  7. Company seal.

The registration process takes up to 10 days.

Getting a visa

A visa is considered an analogue of a residence permit. The grounds for obtaining it are:

  • ownership of an onshore organization – investor;
  • the conclusion of an employment contract with such a company is a working one.

You can also open a checking account in any bank.

How to apply for a resident visa? (required after registration)

  1. Open the organization’s migration file – Establishment Card. The process takes 10 days.
  2. Apply for a visa and get an entry permit – 7-14 days.
  3. Visit the Emirates to get a visa – more often within 5 working days. The applicant must have: medical examination, biometric data.
  4. Get an Emirates ID. It is not required to be present in person.

The cost of a visa is from $ 4,200. It is not necessary to live on the territory of the Emirates, but due to absence within six months, it is canceled.

Company structure

RepresentativeQuantityFL/JULResidency
Directorsminimum 1only FL
Shareholdersfrom 1 to 50FL/yl
Manageronly 1FLresident of the Emirates

Authorized capital

The amount depends on the type of activity. Minimum – 10 000 dirhams. Capital can be denominated in another currency, but with the approval of government agencies. It is also possible to issue different-class shares with the same permission, each of which must be issued for 1000 dirhams / multiple amount.

Approximate cost of starting a business

The opening will cost $ 10,900. The price includes:

  • license;
  • Flexi Desk office;
  • stamp;
  • registration services (minimum package);
  • deposit.

The price may vary depending on the number of shareholders, the choice of license, the size of the premises. The other categories are by additional request. Legalization of documents is paid separately.

How to continue working with the company?

Work in the company

The main responsibility of the company is the annual renewal of the license, payment of the accompanying fee and the lease agreement.

Income tax

It does not need to be paid on the territory of this FEZ.

VAT

Applicable to every transaction, except those that are exempt/not subject to the 0% rate, and is 5%.

Grounds for paying taxes:

  • exceeding the amount of 375,000 AED in the next 30 days;
  • excess over the past year;
  • receiving services that should be included in the reporting on the reverse deduction and exceeding the threshold;
  • excess of the amount of 187,500 AED for taxable transactions;

It is possible to register with the Tax Administration and receive the organization’s tax number (TRN) within 20 or more business days. After that, there will be an obligation to submit a VAT declaration quarterly and pay VAT no later than 28 days after the end of the VAT period.

Audit and reporting

A company registered in Ras Al Khaimah Economic Zone is required to:

  • keep records confirming the financial position and reflecting current data on assets;
  • prepare financial statements;
  • to be audited.

The end of the reporting period is December 31 (the date of the 1st reporting period will depend on the date of registration). The company has six months to prepare and submit reports to government agencies.

Companies with subsidiaries must prepare consolidated financial statements for the entire group.

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